PrivateBancorp Shares Popped: What You Need to Know

What: Shares of PrivateBancorp (NYS: PVTB) rose a little more than 10% on speculation at Seeking Alpha that the stock could squeeze short sellers in the not-too-distant future.

So what: Volume was up only slightly today, so if a short squeeze is in the offing, it hasn't happened yet. But a rush of redemptions is possible. Short interest rose almost 16% in the past two weeks alone -- holdings that would be flipped fast at the first whiff of a sustained rally.

Now what: I'll understand if that's cold comfort for longtime investors. Shares of PrivateBancorp are down more than 40% year to date. It'll take a lot more than a short squeeze to close that gap. Do you agree? Disagree? Please weigh in using the comments box below.